Former Greenberg Partner on Hot Seat for Alleged Role in Bank Fraud

The OCC is also seeking a $250,000 fine against Loumiet, accusing him of engaging in unsafe or unsound practices. Investigators say it was a conflict of interest for Loumiet and his firm at the time, Greenberg Traurig, to take on an “independent” study of the transactions considering that it had been retained by the bank prior to that as outside counsel. An OCC spokesman didn’t return phone calls on the matter but the office issued a statement reiterating previous remarks: “Mr.

Loumiet protected the bank officers by making materially false and misleading assertions, and by suppressing material evidence.” Loumiet is accused of concealing the bank’s swap, conflict of interest, making materially false and misleading statements, and generally harming the bank through his faulty investigation. Loumiet oversaw the writing of two reports in November 2000 and March 2001.
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